Whether your wardrobe is bursting with every garment you’ve ever owned, or it’s a more refined capsule collection, the cost of replacing your clothes could be higher than you think.
You don’t need to be a fashionista to care about the clothes you wear. A recent Australian Fashion Council report found the average Australian purchased 56 new wardrobe items per year.
Of course, some people spend more than others, but when you add in new fashion trends, the cost of school uniforms, work attire, activewear and everyday clothes, the total can add up significantly over time.
If an unexpected event such as a theft or natural disaster was to occur, this could impact some or all of your wardrobe. You may want to check your policy to avoid being underinsured when you need insurace coverage most.
Here's how to calculate the cost of your wardrobe.